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Tuesday, January 24, 2012

Flexible working

The option.For those that like the idea of flexible working there are plenty of options: part-time; flexi-time; job sharing; annualised hours; compressed hours; staggered hours and homeworking. .In addition there are variations on these themes.

.Such as term-time working and school hours working. .It all comes down to the relationship with the boss and how amenable they are to your demands..Going part-time means simply working less hours.While flexi-time enables you to choose your hours, although there's usually a core period during which you are expected to work. .Job sharing, meanwhile, sees you combining with someone else to do a job designed for one person. .For example, each of you doing two-and-a- half days a week.Annualised means your hours will be worked out over a year with the normal practice being a set number of shifts to which you add your own agreed hours. .A compressed arrangement will see you working the same amount of hours but in a few days..While staggered involves having different starting and finishing times for employees in the same workplace..Finally there is homeworking, which does away with the commute..And the expense of having an employee in the office..As their job is done from the comfort of their own house. .The hours spent dedicated to company business – or amount of work needed to be finished – will be down to an agreement struck with the boss..Your entitlement.The good news is that anyone can ask their employer for flexible working arrangements and the law also provides a statutory right to make this request if you meet certain criteria..Such as having worked for the same firm for 26 continuous weeks.If this is the case they can ask if, for example, they have parental responsibility for a child under 17-years-old (or a disabled child under 18 that receives Disability Living Allowance)..Or they act as a carer for a relative..Or an adult that's unrelated but who lives at the same address..However, although the employer must seriously consider the application, they can decline it where there is a legitimate business ground..A good suggestion is anyone wanting to change their hours puts themselves into the manager's shoes and come up with a viable solution..Don't just say you want to change hours as all you're doing then is giving your manager a problem..Try to understand what your job means to the organisation. .You know your job better than anyone else, and so are best placed to see a way of doing it differently..Work for yourself.Of course, the ultimate flexibility is being your own boss. .On the face of it you can set your own hours, decide how much to pay yourself and give yourself bonus days off when the sun is shining..But it's certainly not stress-free..As well as potentially being the passport to a more lucrative and enjoyable way of life, starting your own business can be one of the riskiest and stressful moves you can ever make..And is likely to require even more hours being put in until it's properly up and running..Other considerations.For all these flexible options there are financial issues to consider. .For example, if their new flexible working arrangement reduces the hours worked it will affect their income and probably their pension benefits..People need to consider what impact the new working arrangement will have on their finances in the short and the long term..People should do a budgeting exercise to see the true impact of any changes because it might change their ability to save for school fees.University costs or deposits for a house move..Over the longer-term the main issue will be their pension. .It is important that people take into account what reduced hours might mean for their pension benefits. .It might mean that working less now will result in having to work later in life..Even if the finances are negatively affected, it is still important to balance this against the positive reasons for wanting a more flexible working arrangement..Such as getting to spend more quality time with your children and improving your quality of life.There are, of course, other pros and cons of striking the perfect work-life balance. .It's also good to keep family life separate but this isn't always possible. .When the smartphone pings at 4pm on a Sunday afternoon and it takes all the willpower in the world not to go and check it in case it's something interesting!.Of course there are other pros and cons however the main thing is to be honest with yourself..Do not get to forty something saying I wish I had done this or that.You did or you didn't..That was you, your life that was..What will you do?